Resolving a Complex Farming Partnership
Separation
Separation
Client Profile
Two siblings jointly owned and operated a diversified farming business, which included both agricultural activities and property lettings. Differences in vision led to the decision to separate their business interests.
Challenges:
Equitably dividing assets, including properties held in trust and diversified investments.
Minimizing tax liabilities across multiple domains: corporation tax, income tax, capital gains tax, and SDLT.
Ensuring legal agreements provided adequate protection for both parties.
Brightshire's Approach:
Brightshire collaborated with the clients’ solicitors to draft legal agreements that facilitated the separation. They provided detailed advice on the appropriation of trust assets and structured the division to optimize tax efficiency. Their planning ensured compliance with tax regulations while safeguarding the clients’ financial interests.
Outcome:
The separation was executed smoothly, with both parties receiving fair shares of the business assets.
The strategic planning resulted in substantial tax savings across various tax categories.
Both siblings were able to pursue their individual business goals without legal or financial entanglements.
"The team at Brightshire guided us through a challenging separation with professionalism and care. Their insights not only protected our assets but also preserved our family relationship."
Tom and Daniel Robson